IRL 0.00% 0.0¢ india resources limited

Ann: Contract Mining and Mine Development , page-7

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 768 Posts.
    lightbulb Created with Sketch. 13
    Can anybody clear this up for me (I'm speaking to you Rocket by the way).
    I have been trying to marry the announcement of 3 September 2013 - "Arbitration Award on Pending Issues" (referred to Ann A below)and this announcement - "Contract Mining and Mine Development" pg 4 Outstanding Receivables (referred to as Ann B below) .
    Ann A has the following (followed below with what I believe it is referring to in Ann B):

    Ann A
    1. Fixation of Production Targets and Imposition of Liquidated Damages imposed by HCL for the years 2008-09 and 2009-10.
    Ann B
    3. Liquidated Damages, approx amount due $1.04M
    (No issue here)

    Ann A
    2. Responsibility to appoint etc (not won).
    Ann B
    5.Appointment of etc
    (No issues here)

    Ann A
    3. Non-compliance of tax deducted at source (TDS) provisions by HCL
    Ann B
    4. Illegal and arbitrary deduction made by HCL, approx amount due $0.27M
    (No issue here)

    Ann A
    4. Escalation in the cost of Material inputs
    Ann B
    6. Material Escalation, approx amount $4.5-$4.6M.
    This is the one I am a bit confused on. The amounts here for the ones awarded amount to about $5.8M, however actual amount awarded is only $1.154M according to Ann A.
    Am I looking at the wrong one on that last point, anyone?

    Don't get me wrong, the award is still an outstanding result for a company of this size, however the numbers seem a little low.
 
watchlist Created with Sketch. Add IRL (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.